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Ev Battery Factory

All articles tagged with #ev battery factory

business1 year ago•4 min saved

GM Sells Michigan Battery Plant Stake to LG for $1 Billion

General Motors (GM) is selling its stake in the Ultium Cells LLC electric vehicle battery factory in Delta Township, Michigan, to its partner LG Energy Solution. The factory, heavily subsidized by Michigan with nearly $200 million in public funds, was intended to make the state a hub for the EV industry. Despite delays and questions about the project's value, the factory is nearing completion and will be operated by LG Energy Solution. GM's decision comes amid broader challenges in the EV market and as it seeks additional tax incentives for other projects.

via Bridge Michigan|

#business #ev-battery-factory #gm

business2 years ago•1 min saved

Ford Cuts Back on Battery Plant Amidst Slowing EV Adoption

Ford is scaling back its plans for a new electric vehicle battery plant in Michigan, reducing its investment from $3.5 billion to around $2 billion and lowering the expected number of hires from 2,500 to 1,700. The decision comes as the company faces rising labor costs and slowing demand for electric vehicles. The plant, which was announced in partnership with China's CATL, will now produce about 43% fewer batteries per year. Despite recent production halts and delays, Ford still plans to open the facility in 2026.

via The Verge|

#business #electric-vehicle-demand #ev-battery-factory

business2 years ago•2 min saved

Ford Halts $3.5B EV Battery Factory Project Amid Controversy

Ford has halted work on its $3.5 billion EV battery factory in Michigan, which was intended to produce cheaper lithium iron phosphate batteries in collaboration with China's CATL. The automaker cited the need to ensure competitive operation of the plant as the reason for the pause, without providing specific details or confirming if the project will be shelved altogether. This decision comes amid a limited strike affecting Ford, GM, and Stellantis, as well as ongoing investigations into Ford's licensing deal with CATL. The factory, which received $1.7 billion in state incentives, was expected to employ 2,500 workers and begin production in 2026.

via TechCrunch|

#business #catl #electric-vehicles

energy2 years ago•1 min saved

KORE Power secures $850M federal loan for EV battery factory in Arizona.

KORE Power's construction of its EV battery factory in Arizona is set to be accelerated with an $850m loan from the US Department of Energy. The factory will produce nickel manganese cobalt and lithium-ion iron phosphate battery cells for EVs and battery storage systems in the US, with an annual production capacity of 6 GWh. The facility is expected to create 1,250 direct jobs when operating at capacity and will begin delivering batteries by the end of 2024 or early 2025.

via Electrek.co|

#doe-loan #energy #ev-battery-factory